Yesterday, Congresswoman Yvette D. Clarke joined the House of Representatives in passing H.R. 2847, the Jobs for Main Street Act with a vote of 217 to 212. This bill creates and saves more jobs by making targeted investments in areas that will grow our economy over the long term, including highways, public transit, construction, and small businesses.

“As a Member of the House Small Business Committee, I truly believe that small businesses are the economic engine to job growth in our nation,” said Rep. Clarke. “The bill includes several key initiatives to help America’s small businesses create jobs by expanding the federal guarantee for banks that lend to small businesses and eliminating fees on Small Business Administration (SBA) loans. By making small business loans more accessible and affordable, we can spur the creation of thousands of jobs.”

The Jobs for Main Street Act invests $48 billion to help put people back to work rebuilding our roads and bridges, modernizing public buildings and mass transit, and cleaning our air and water. This bill also extends emergency unemployment benefits, helps with health benefits for those out of work through COBRA, protects health care coverage for millions through Medicaid, and cuts taxes for the families of 16 million children by making the Child Tax Credit available to all low-income working families with children in 2010.

“As of October, the unemployment rate sat at 10.3 percent in New York City. While I am optimistic about early economic indicators pointing to a recovery, many New Yorkers are still having a hard time finding jobs,” stated Congresswoman Clarke. “This bill creates smart targeted investments that will build a solid foundation for long term economic growth. With the passage of this bill, I am confident that the great state of New York and this nation is headed towards economic prosperity.”

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